Marijuana Business News

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Thu
25
Jun

Changes to Lloyd’s of London Cannabis Insurance

By Hayes Brokers

As you may have already heard, Lloyd’s of London announced last week that they are pulling out of the cannabis insurance industry effective immediately. Their reason? They no longer want to write business in the US until the cannabis industry is legal (no longer classified as a Schedule One drug) nationwide so as to avoid problems with federal authorities in states where marijuana is legal medically or recreationally.

Thu
25
Jun

Vancouver becomes 1st in Canada to license and regulate pot shops, permitting about 100 retailers to open

Vancouver city council has voted to regulate and license the roughly 100 medical marijuana retailers in the city, making it the first city in Canada to do so.

The bylaw was supported by Mayor Gregor Robertson, the dominant Vision Vancouver councillors, and Green Party Coun. Adriane Carr. Opposed were the city's three Non-Partisan Association councillors.

Coun. Kerry Jang called the controversial bylaw "a common-sense approach to dealing with the explosion of medical marijuana shops in our city."

The bylaw will charge retail dealers a $30,000 licence fee — the city's highest permit cost — and prevent shops from operating within 300 metres of community centres, schools and other pot shops.

Thu
25
Jun

Legal marijuana sparks liability fears for Colorado employers

DENVER, Colorado - Marijuana legalization in Colorado put business owners like Dottie Peterson in a quandary.

Peterson doesn't want workers at the staffing service she operates to use marijuana on the job, though she doesn't mind if they do it in their free time. But she can't hire drug users because of her insurance. Many companies, including hers, get better worker's compensation insurance rates by being a drug-free workplace, so the new employees she hires must pass drug tests.

Wed
24
Jun

A Case Study in the Risks of Marijuana Biotech

Regular readers of MJINews hardly need to be persuaded that the growth of the legal marijuana market has made a number of entrepreneurs and their investors a lot of money. It will yet do more of the same. In another five years the industry could show total revenues of $35 billion, if all 50 states and Washington, D.C., legalize retail marijuana.  

But … there is no profit without risk, and it is well for those who would invest in this field, either capital or entrepreneurial energy or both, that they recognize the risk.

Wed
24
Jun

Monarch America Signs Landmark Consulting Agreement for Marijuana Grow Facility With Flandreau Santee Sioux Tribe in South Dakota

DENVER, CO--(Marketwired - Jun 24, 2015) - Monarch America, Inc. (OTCQB: BTFL) ("Monarch America" or the "Company") is pleased to announce that it has completed a Consulting Agreement (the "Agreement") with the Flandreau Santee Sioux Tribe ("FSST"), a federally recognized tribe located in South Dakota, for the design, construction, and development of a proposed state-of-the-art marijuana cultivation facility on sovereign FSST tribal land with a tribally owned subsidiary.

Wed
24
Jun

Medical marijuana facility under construction on Prince Edward Island

The first private medical marijuana facility on Prince Edward Island is being built in Charlottetown. 

Construction has started on Canada's Island Garden. The facility is over 2,200 square metres and is located in BioCommons Research Park.     

Owner Edwin Jewel says construction is expected to be completed by late November.

It will then have to be licensed by Health Canada.      
    
"I think the biggest challenge for Canada's Island Garden is to make sure we meet or exceed all of the regulations Health Canada has laid out," said Jewel. 

Wed
24
Jun

Denver drops marijuana from county fair

State lawmakers who hoped to bring marijuana sales under the authority of a centralized state commission plan to scrap their bill in the final days of the legislative session.(Photo: KUSA)

DENVER (AP) - The Denver County Fair is dropping marijuana exhibits from next month's event, a year after some people said they were unwittingly served pot-infused chocolate in the fair's "Pot Pavilion."

The organizer of the county fair insists that the fair is dropping marijuana not because of that incident but because marijuana-related vendor sales were slow. Dana Cain says that Denver has so many marijuana-related festivals that the drug has "become kind of old hat."

Wed
24
Jun

Nevada Based Marijuana Testing Lab Company, MA & Associates, LLC Becomes a 100% Wholly-Owned Subsidiary Of Pazoo

WHIPPANY, N.J., June 24, 2015 /PRNewswire/ -- Pazoo, Inc. (OTC Pinks: PZOO) (German WKN#: A1J3DK), is pleased to report that on Wednesday, June 3, 2015,  Pazoo acquired the remaining 60% of MA & Associates, LLC in exchange for 900,000 shares of Pazoo's Series C. Preferred stock. This now makes MA & Associates, LLC a 100% wholly-owned subsidiary of Pazoo.

Wed
24
Jun

Sacred and PotLocator.com Announce Release of Cannabis Infused Products in Oregon

PORTLAND, Ore., June 24, 2015 (GLOBE NEWSWIRE) -- Sacred, an industry leading manufacturer of a revolutionary new line of cannabis-infused products that include bath salts, massage oils, and personal lubricants and PotLocator.com, the nation’s leading provider of access to services and products in the marijuana industry, are pleased to announce the release of Sacred’s products in Oregon, making the state the first in the nation to sell Sacred’s organic, cannabis-infused products.

“Medical marijuana patients in Oregon will now have another natural choice when it comes to the ways they relax or medicate themselves in the privacy of their own homes,” says Luc Nelson, Director of Business Development.

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